11,992 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. bought a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,992 shares of the CRM provider’s stock, valued at approximately $4,009,000. Salesforce makes up about 2.0% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its holdings in shares of Salesforce by 38.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock valued at $53,000 after acquiring an additional 57 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Salesforce by 5.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,263 shares of the CRM provider’s stock worth $5,467,000 after purchasing an additional 1,120 shares during the period. Angeles Investment Advisors LLC raised its stake in Salesforce by 8.2% during the 2nd quarter. Angeles Investment Advisors LLC now owns 2,773 shares of the CRM provider’s stock valued at $713,000 after buying an additional 211 shares during the last quarter. Capital Wealth Planning LLC lifted its holdings in shares of Salesforce by 3.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 10,743 shares of the CRM provider’s stock valued at $2,762,000 after buying an additional 312 shares during the period. Finally, Financial Perspectives Inc boosted its stake in shares of Salesforce by 197.3% in the 2nd quarter. Financial Perspectives Inc now owns 223 shares of the CRM provider’s stock worth $57,000 after buying an additional 148 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,229,213.48. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last three months. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Oppenheimer reissued an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, UBS Group boosted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Price Performance

CRM opened at $319.39 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $336.25 and a 200 day moving average of $290.19. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $305.66 billion, a P/E ratio of 52.53, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s payout ratio is currently 26.32%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.